IFLR1000

New Look £1.2 billion high-yield issue

1/7/2015
High-yield bond/note issue
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£ 1.2 billion

$ 1.491 billion

Completed

1/7/2015

Overview:

  • New Look has undertaken a £1.2 billion high yield bond issue in order to refinance its debt.
  • The offer consists of £700 million 6.5% senior secured notes due 2022 and €415 million floating rate senior secured notes due 2022 and £200 million 8% senior notes due 2023.
  • The deal comes as the clothing retailer has been acquired by Brait.
  • Allen & Overy acted for the underwriters.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : Debt

Governing law:

New York

Industry sector:

Consumer goods and services

Firms:
A&O Shearman United Kingdom

Party: Goldman Sachs (Initial purchaser)

Party: JPMorgan Chase (Initial purchaser)

Party: Nomura (Initial purchaser)

Simpson Thacher & Bartlett

Party: New Look (Issuer)

Lawyer: Nicholas Shaw

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